agency ppt - Agency In agency, a person represents another...

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Agency In agency, a person represents another person ; authorized acts of the representative are, in effect, the acts of the one he/she represents
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Principal Any legal entity who authorizes an agent to act on his/her behalf
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Agent Must have capacity; any legal entity; representative of the principal; authorized to bind the principal if acting within the scope of his/her authority
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Creation of Agency As with creation of a contract, look to the parties' words and conduct, and to the overall circumstances
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Agency Similar to contract law, but it is not identical to contract law Consent is required for an agency to be created, and for it to remain in existence Consideration may be unnecessary
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3 elements to win a lawsuit: 1. A wrong 2. Damages 3. Deep pockets
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Apparent Authority It is not a true agency, but it is treated as one
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Elements of Apparent Authority: 1. The apparent principal by its acts or omissions has created or allowed others to create a third person’s reasonable belief that someone is the
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This note was uploaded on 02/14/2011 for the course BUL 4310 taught by Professor Carolan during the Spring '08 term at University of Florida.

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agency ppt - Agency In agency, a person represents another...

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